On 12/11/2021, the General department of Customs (“GDC”) published the new guidance (Official letter no. 5371/TCHQ-TXNK dated 12/11/2021) about the procedure and required document of price consultation session.
Price consultation is a Customs procedure where Customs authority coordinates with the Customs declarant to check the trustfulness and appropriateness of price declared on Customs import / export declaration form (“declared price”), and consider adjustment(s) where necessary. The final-determined price is the basis to calculate payable duties (import/export duty and VAT etc.) and proceed relevant State management tasks.
Compared to the prevailing regulations and old guidance, there are several new points in this official letter:
- Online consultation allowed
- Document and dossier used for price consultation
- The process of price check
We do trust the above points are notable and sufficient, but should you have any questions or need a deeper discussion on this issue, please do not hesitate to contact us.
- Assist to review the whole transaction process (sale/purchase) for transactions between related parties (parties whose relationships are considers “affiliated” in term of Customs valuation) in regards to Customs compliance requirements.
- Assist to review dossiers and documents relating to pricing and price consultation.
- Assist to review and advise on change (where appropriate) the declaration of Customs dutiable value.
- Assist in liaising and working with Customs authority regarding price doubts or price-related issues.
- Advice on other relevant topics regarding Customs declaration and model-planning in aiming to enhancing the Company’s business model and ensuring compliance with Customs regulations.